$70/b oil ‘unsustainable’: OPEC’s newest member

摘要

London-Global oil prices above $70/b are not sustainable in the long term and may heap pressure on OPEC producers to wind down their production cut deal sooner, the oil minister of Equatorial Guinea, OPEC’s newest member, said Thursday. OPEC is due to hold its next meeting June 22 in Vienna amid speculation that some in the producer bloc may be wavering in their commitment to the deal with other key producers given the rise in oil prices over the last few months.